Backed by its rapidly-growing information technology sector, Bangalore is now counted among the highly impressive real estate markets. From attractively affordable to plush luxurious- all types of residential properties can be availed in the city. The southwestern quadrant of the city is offering a good mix of residential and commercial real estate. Development along the residential belt is gaining much of the investors’ attention. Property in Mysore Road Bangalore is focused on offering low cost to mid-segment residential housing options in the city.
For a neighbourhood that witnessed slow initial growth, Mysore Road has shown commendable trends of improvement. This belt is comprised of popular localities like Banashankari, Rajarajeshwari Nagar, Nayandahalli and Kengeri. With metro route extension to reach Kengeri in its Phase II and with the widening of Sirsi Circle Flyover upto Nayandahalli, the real estate scenario of this belt has completely transformed Belt and Road Initiative.
RESIDENTIAL REALTY SCENARIO
The launch of 1 BHK, 2 BHK and 3 BHK Flats in Mysore Road started proliferating around a decade ago. Its connectivity with the Outer Ring Road (ORR) and the educational and industrial belt turned out to be the main reason for its realty revival. The customer base for the neighbourhood largely includes the government officials and the employees of small scale enterprises. The IT workers engagement in the locality’s real estate is lesser than the other quadrants.
Properties are still affordable in the area at an average rate of 3,000-4,500 per sq ft. Unlike the smaller sized units that are majorly bought for end-use purpose, 3 BHK Flats in Mysore Road are seen by some as good ventures for investment. However, the market at large is end-use oriented. Residential properties are launched by popular builders namely Salarpuria Group, Gopalan Developers and Provident Housing. Exhibiting a good demand-supply balance, it is anticipated to remain a stabilized market.
COMMERCIAL REALTY SCENARIO
It is an accepted fact that infrastructure has led to the commercial developments in an area. Property in Mysore Road Bangalore can be cited as a good example to support this statement. This residential corridor primarily consists of industrial development and is occupied by engineering and manufacturing companies. Though there were no strong economic drivers, the infrastructure development is now acting as a catalyst for commercial development. Global Tech Village launched along the belt will attract good investment. It is envisaged to witness a good supply of office spaces in the coming time. A Software Park is also being developed.